The Real Costs of Ontario’s Nuclear Gamble
How Ontario's Nuclear Plan Could Cost Ratepayers $117 Billion More Than Renewable Energy
Report Highlights
Introduction
Ontario is making electricity decisions that will affect household energy bills for decades.
The province plans to rely on nuclear power for more than 70 per cent of its electricity by 2050 while building expensive new reactors and increasing gas-fired electricity generation in the near term.
A new analysis by Power Advisory LLC found there's a cheaper alternative. Ontario's planned nuclear pathway would require $221 billion in capital investment by 2050, compared to $104 billion for a renewable energy pathway built around wind, solar, battery storage and energy efficiency. That's a difference of $117 billion- costs that could ultimately be passed on to ratepayers.
For the average household, the nuclear pathway could mean paying up to $456 more every year in annual electricity generation costs. At a time when Ontario needs affordable electricity to power electric vehicles, heat pumps and a growing economy, choosing the lowest-cost path matters more than ever.
Breaking Down the Numbers
All scenarios include the refurbishments at Darlington, Bruce and Pickering, and the SMRs at Darlington. The high nuclear scenario also includes new nuclear power plants at Wesleyville and an additional plant at Bruce as well as additional refurbishment at Bruce A. The renewable energy pathway swaps out the nuclear for an optimal mix of wind, solar and other resources to meet Ontario’s demand for power.
$0 Billion
Additional capital costs associated with Ontario's nuclear-heavy electricity pathway compared to a renewable energy alternative.
0%
Share of Ontario's electricity that the province plans to supply from nuclear power by 2050.
$0 -
$0
Additional annual electricity generation costs the average household could pay under Ontario's nuclear plan.
$0 /MWh
Price achieved by wind and solar projects in Ontario's latest electricity procurement auction, making renewable power the cheapest new source of energy in the province.
Take Action
Acknowledgements
ACKNOWLEDGEMENTS: This report is written by Emily Hunter and Keith Brooks based on analysis from Ontario’s Electricity Supply Pathway, commissioned by Environmental Defence Canada and produced by Power Advisory LLC, a leading independent electricity consulting firm in Canada. The recommendations in this report are solely reflective of the perspectives of Environmental Defence Canada.
